8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 19, 2018

IBERIABANK CORPORATION

(Exact name of Registrant as Specified in Charter)

Louisiana	001-37532	72-1280718
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

200 West Congress Street, Lafayette, Louisiana 70501

(Address of Principal Executive Offices)

(337) 521-4003

Registrant’s telephone number, including area code

NOT APPLICABLE

(Former name or former address, if changed since last report)

 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

x Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02 Results of Operations and Financial Condition

Item 7.01 Regulation FD Disclosure

On April 19, 2018, the Registrant announced its results of operations for the three months ended March 31, 2018. Copies of the related press release and selected supplemental materials are attached as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K and are incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit 99.1 - Press Release reporting first quarter results dated April 19, 2018, issued by the Registrant.

Exhibit 99.2 - Supplemental Materials to conference call.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	IBERIABANK CORPORATION
DATE: April 20, 2018	By:	/s/ Daryl G. Byrd
	Daryl G. Byrd
	President and Chief Executive Officer

EXHIBIT INDEX

Exhibit Number
99.1	Press Release reporting first quarter results dated April 19, 2018, issued by the Registrant.
99.2	Supplemental Materials to conference call.

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

April 19, 2018

Contact:

Daryl G. Byrd, President and CEO (337) 521-4003

Jefferson G. Parker, Vice Chairman, Director of Capital Markets and Investor Relations (504) 310-7314

IBERIABANK Corporation Reports First Quarter Results

LAFAYETTE, LOUISIANA -- IBERIABANK Corporation (NASDAQ: IBKC), holding company of the 131-year-old IBERIABANK (www.iberiabank.com), reported financial results for the first quarter ended March 31, 2018. For the quarter, the Company reported income available to common shareholders of $60.0 million, or $1.10 diluted earnings per common share (“EPS”). On a non-GAAP basis, EPS excluding non-core revenues and non-core expenses ("Core EPS") in the first quarter of 2018 was $1.37 per common share, compared to $1.02 in the year-ago period, an increase of 34% (refer to press release supplemental tables for a reconciliation of GAAP to non-GAAP metrics).

Daryl G. Byrd, President and Chief Executive Officer, commented, “I am very pleased with our first quarter 2018 results, as we achieved our Company’s highest quarterly Core EPS result and are well-positioned for a strong year. More specifically, the quarter was in-line with our internal expectations, reflective of the predictable seasonality we have historically experienced. As such, we also wanted to re-affirm our confidence in our previously provided 2018 guidance."

“Our results demonstrated continued franchise momentum, in particular the asset sensitive nature of our balance sheet, focus on core deposit growth and strong credit quality. While the results of our fee income businesses were consistent with our expectations, our ongoing efforts to retool the mortgage business should accelerate its performance and bottom-line contribution going forward. In addition, the execution of synergy opportunities from the Sabadell and Gibraltar transactions should help to drive operating leverage over the balance of the year,” Byrd added.

Byrd concluded, “Today, we are also releasing our 2020 Strategic Goals, outlining financial metrics we intend to achieve over the coming three years. Our team is committed to providing sustainable, profitable growth and realizing outstanding returns for our shareholders.”    

The Company completed its acquisition of Gibraltar Private Bank & Trust on March 23, 2018, and successfully and efficiently converted branch and operating systems of Gibraltar over the weekend of March 23-25. The acquisition of Gibraltar added $1.5 billion in loans and $1.1 billion in deposits, based on preliminary purchase accounting adjustments. The Company incurred approximately $16.2 million in pre-tax merger-related expenses during the first quarter of 2018, resulting in a $0.23 reduction to GAAP EPS. Gibraltar operated eight offices in total, which will be consolidated into two offices. The Company anticipates that the operating metrics and expense savings provided at acquisition announcement will be fully achieved in 2018.

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Highlights for the first quarter of 2018 and at March 31, 2018:

For the quarter, both GAAP and Core EPS improved on a linked quarter basis, both of which benefited from the recent enactment of the Tax Cuts and Jobs Act in the prior quarter.  Results were also impacted by certain non-core merger-related expenses associated with the branch and operating systems conversion of the Gibraltar acquisition.  Return metrics improved significantly in the quarter, while our efficiency ratio increased slightly, reflective of traditional revenue and expense headwinds the Company experiences in the first quarter of the year.             

	For the three months ended
	GAAP						Non-GAAP Core
	1Q18			4Q17			1Q18			4Q17
Earnings Per Common Share	$	1.10		$	0.17		$	1.37		$	1.33
Return on Average Assets	0.92		%	0.15		%	1.13		%	1.03		%
Return on Average Common Equity	6.79		%	1.02		%	8.45		%	7.92		%
Return on Average Tangible Common Equity	N/A			N/A			13.83		%	12.73		%
Efficiency Ratio	67.9		%	63.3		%	61.1		%	57.5		%
Tangible Efficiency Ratio (TE)	N/A			N/A			58.8		%	55.3		%

• First quarter 2018 results are in-line with full year 2018 guidance.

• The Company's reported net interest margin was relatively unchanged on a linked quarter basis, while the Company’s cash net interest margin for the quarter was 3.42%, up 9 basis points from 4Q17.

• Non-interest income in 1Q18 decreased $7.8 million on a linked quarter basis, primarily due to a seasonal decline in mortgage income and other fee income categories.

• Non-interest expense increased $6.2 million on a linked quarter basis, largely due to merger and compensation-related expenses from the Gibraltar acquisition. Total merger-related expenses in 1Q18 of $16.2 million reduced GAAP EPS by $0.23 in the current quarter.

• As previously announced, the Company rewarded certain associates a one-time cash bonus following the enactment of tax reform legislation in 1Q18. These bonuses impacted both GAAP and Core EPS by $0.03 in the current quarter.

• The effective tax rate in 1Q18 is in line with expectations at 21.6%. The reduction in the corporate tax rate effective January 1, 2018 benefited GAAP EPS by approximately $0.17 in the current quarter.

• Total loan growth was $1.6 billion, or 8%, in 1Q18, of which $1.5 billion was acquired from Gibraltar.

• Total deposits increased $1.5 billion, or 7%, in 1Q18, of which $1.1 billion was acquired from Gibraltar.

• Credit metrics remain stable; net charge-offs decreased $5.8 million on a linked quarter basis and equated to an annualized 9 basis points of average loans. The provision for loan losses decreased $6.4 million, or 45%.

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Table A - Summary Financial Results
(Dollars in thousands, except per share data)
	For the Three Months Ended
	3/31/2018			12/31/2017			% Change		3/31/2017			% Change
GAAP BASIS:
Income available to common shareholders	$	60,023		$	9,329		543.4		$	46,874		28.1
Earnings per common share - diluted	1.10			0.17			547.1		1.00			10.0
Average loans and leases, net of unearned income	$	20,181,390		$	19,941,500		1.2		$	15,045,755		34.1
Average total deposits	21,777,634			21,378,122			1.9		17,511,324			24.4
Net interest margin (TE) (1)	3.67		%	3.69		%			3.53		%
Total revenues (2)	$	277,455		$	287,844		(3.6	)	$	217,942		27.3
Total non-interest expense (2)	188,296			182,065			3.4		138,796			35.7
Efficiency ratio (2)	67.9		%	63.3		%			63.7		%
Return on average assets	0.92			0.15					0.94
Return on average common equity	6.79			1.02					6.41
NON-GAAP BASIS (3):
Core revenues (2)	$	277,514		$	287,809		(3.6	)	$	217,942		27.3
Core non-interest expense (2)	169,457			165,591			2.3		137,215			23.5
Core earnings per common share - diluted	1.37			1.33			3.0		1.02			34.3
Core tangible efficiency ratio (TE) (1) (2) (5)	58.8		%	55.3		%			61.3		%
Core return on average assets	1.13			1.03					0.96
Core return on average common equity	8.45			7.92					6.55
Core return on average tangible common equity (4)	13.83			12.73					8.99
Net interest margin (TE) - cash basis (1) (4)	3.42			3.33					3.30
(1)  Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 35% for prior quarters and a rate of 21% for the current quarter.
(2)  Certain prior period amounts have been reclassified to conform to the net presentation requirements of ASU No. 2014-09, Revenue from Contracts with Customers, which was adopted effective January 1, 2018. On average, the adoption resulted in a reduction of non-interest income and non-interest expense of approximately $2.3 million on a quarterly basis, and had no impact on net income.
(3)  See Table 7 and Table 8 for GAAP to Non-GAAP reconciliations.
(4)  See Table 6 for adjustments related to purchase discounts on acquired loans and related accretion.
(5)  Tangible calculations eliminate the effect of goodwill and acquisition related intangible assets and the corresponding amortization expense on a tax-effected basis where applicable.

Operating Results

The Company's reported net interest margin decreased 2 basis points on a linked quarter basis, to 3.67%, primarily as a result of lower accretion on the acquired loan portfolio, upward repricing of indexed public funds deposits and promotional deposit pricing, offset by increases in earning assets and legacy loan yields. The Company’s cash net interest margin for the

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quarter was 3.42%, up 9 basis points from 4Q17, driven by a recovery of interest upon payoff of a non-accrual loan and an improvement in loan yields, offset by an increase in expenses on deposits and borrowings.

Net interest income decreased $2.6 million, or 1%, on a linked quarter basis. Average loans increased$239.9 million, or 1%, and the associated taxable-equivalent yield increased2 basis points. All other average earning assets decreased a net of $112.4 million, or 2%, versus the prior quarter. The yield on interest earning assets was 4 basis points higher at 4.26% compared to 4.22% in the prior quarter.

Average interest-bearing deposits increased $297.4 million, or 2%, and the average cost of interest-bearing deposits rose 9 basis points to 74 basis points on a linked quarter basis. Total average interest-bearing liabilities remained essentially flat with the linked quarter, while the average costs of interest-bearing liabilities rose 10 basis points to 86 basis points. The total cost of interest-bearing liabilities rose primarily due to increased deposit pricing as previously discussed, and a higher rate paid on long-term FHLB advances.

The Company’s provision for loan losses decreased 45% to $8.0 million primarily due to a decline in net charge-offs. The provision for loan losses covered net charge-offs in 1Q18 by 186% compared to 142% in 4Q17.

In 1Q18, non-interest income decreased $7.8 million compared to 4Q17. The primary changes in non-interest income on a linked quarter basis included a decrease in mortgage income of $4.1 million, a result of seasonal declines in mortgage production as well as a decrease in gains on sale of mortgage loans, a decrease in gains on the sale of SBA loans of $1.0 million, and an unfavorable market value adjustment on the Company’s CRA mutual funds of $0.7 million. The Company is in the process of revamping its mortgage business through recent leadership changes and hiring of mortgage loan officers. The Company believes it is well-positioned in the mortgage business for the remainder of 2018.

Non-interest expense increased $6.2 million on a linked quarter basis primarily due to higher merger-related expenses incurred in 1Q18 related to the Gibraltar acquisition. During the quarter, the Company’s non-core non-interest expense included $16.2 million in merger and conversion-related expenses, $1.2 million in compensation-related expenses, and $2.1 million in branch closure and other impairment expenses.

Excluding these items, core non-interest expense increased $3.9 million, or 2%, primarily driven by an increase in provision for unfunded lending commitments largely attributable to the reversal in 4Q17 of excess hurricane-related provisioning, increased net costs of OREO of $1.1 million related to lower gains on sales of OREO, and $1.0 million in higher donations and business development expenses.

The efficiency ratio increased from 63.3% to 67.9%, while the non-GAAP core tangible efficiency ratio increased from 55.3% to 58.8%, on a linked quarter basis. Refer to Table A for a summary of financial results on both a GAAP and non-GAAP basis.

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Table B - Summary Financial Condition Results
(Dollars in thousands, except per share data)
		As of and For the Three Months Ended
		3/31/2018			12/31/2017			% Change	3/31/2017			% Change
PERIOD-END BALANCES:
	Total loans and leases, net of unearned income	$	21,706,090		$	20,078,181		8.1	$	15,132,202		43.4
	Total deposits	22,971,192			21,466,717			7.0	17,312,265			32.7
ASSET QUALITY RATIOS:
	Loans 30-89 days past due and still accruing as a percentage of total loans (1)	0.36		%	0.31		%		0.24		%
	Loans 90 days or more past due and still accruing as a percentage of total loans (1)	0.04			0.03				0.05
	Non-performing assets to total assets (1)(2)	0.64			0.64				1.00
	Classified assets to total assets (3)	1.39			1.45				1.89
CAPITAL RATIOS:
	Tangible common equity ratio (Non-GAAP) (4) (5)	8.66		%	8.61		%		12.10		%
	Tier 1 leverage ratio (6)	9.97			9.35				12.91
	Total risk-based capital ratio (6)	12.48			12.37				16.92
PER COMMON SHARE DATA:
	Book value	$	66.38		$	66.17		0.3	$	65.25		1.7
	Tangible book value (Non-GAAP) (4) (5)	42.91			42.56			0.8	50.46			(15.0	)
	Closing stock price	78.00			77.50			0.6	79.10			(1.4	)
	Cash dividends	0.38			0.37			2.7	0.36			5.6
(1)	Past due and non-accrual loan amounts exclude acquired impaired loans, even if contractually past due or if the Company does not expect to receive payment in full, as the Company is currently accreting interest income over the expected life of the loans.
(2)	Non-performing assets consist of non-accruing loans, accruing loans 90 days or more past due and other real estate owned, including repossessed assets. Refer to Table 4 for further detail.
(3)	Classified assets include commercial loans rated substandard or worse and non-performing mortgage and consumer loans and include acquired impaired loans accounted for under ASC 310-30. Classified assets were $409 million, $404 million and $415 million at March 31, 2018, December 31, 2017, and March 31, 2017, respectively.
(4)	See Table 7 and Table 8 for GAAP to Non-GAAP reconciliations.
(5)	Tangible calculations eliminate the effect of goodwill and acquisition-related intangible assets and the corresponding amortization expense on a tax-effected basis where applicable.
(6)	Regulatory capital ratios as of March 31, 2018 are preliminary.

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Loans and Other Assets

Total loans increased $1.6 billion, or 8%, to $21.7 billion at March 31, 2018, primarily driven by $1.5 billion of loans acquired from Gibraltar. Excluding acquired loans, period-end loan growth during 1Q18 was strongest in the Corporate Asset Finance division (equipment financing business), the Energy Group (reserve-based lending) and the New Orleans, Louisiana market. The Company believes it is well-positioned for diversified loan growth based on our strategic presence in the South Florida, Atlanta and Texas markets, which are expected to benefit from favorable economic conditions.

Table C - Period-End Loans
(Dollars in thousands)
	As of and For the Three Months Ended
								Linked Qtr Change						Year/Year Change			Mix
	3/31/2018			12/31/2017		3/31/2017		$		%		Annualized		$		%	3/31/2018		12/31/2017
Legacy loans:
Commercial(1)	$	11,094,464		$	10,781,778	$	9,581,229	312,686		2.9		11.8	%	1,513,235		15.8	74.4	%	74.5	%
Residential mortgage	1,280,580			1,176,365		901,859		104,215		8.9		35.9	%	378,721		42.0	8.6	%	8.1	%
Consumer	2,538,878			2,525,008		2,440,356		13,870		0.5		2.2	%	98,522		4.0	17.0	%	17.4	%
Total legacy loans	14,913,922			14,483,151		12,923,444		430,771		3.0		12.1	%	1,990,478		15.4	100.0	%	100.0	%
Acquired loans:
Balance at beginning of period	5,595,030			5,961,939		2,370,047		(366,909	)	(6.2	)			3,224,983		136.1
Loans acquired during the period	1,465,319			—		—		1,465,319		N/M				1,465,319		N/M
Net paydown activity	(268,181		)	(366,909)		(161,289)		98,728		(26.9	)			(106,892	)	66.3
Total acquired loans	6,792,168			5,595,030		2,208,758		1,197,138		21.4				4,583,410		207.5
Total loans	$	21,706,090		$	20,078,181	$	15,132,202	1,627,909		8.1				6,573,888		43.4
(1) Includes equipment financing leases.
N/M= not meaningful

On an average balance and linked quarter basis, the investment portfolio decreased $94.5 million in 1Q18, to $4.8 billion, partly due to unfavorable market valuation on available for sale securities. Approximately 95% of the Company's investment portfolio is in available-for-sale securities, which experience unrealized losses as interest rates rise. On a period-end basis, the investment portfolio equated to $4.8 billion, or 16% of total assets, at March 31, 2018. The investment portfolio had an effective duration of 4.2 years and a $129.9 million unrealized loss at March 31, 2018, up from 3.7 years and a $57.2 million unrealized loss at December 31, 2017. The average yield on investment securities increased 1 basis point to 2.38% in 1Q18. The Company holds in its investment portfolio primarily government agency securities. Municipal securities comprised 9% of total investments at March 31, 2018.

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Deposits and Funding

Total deposits increased $1.5 billion, or 7%, to $23.0 billion at March 31, 2018, primarily driven by $1.1 billion of deposits acquired from Gibraltar. Excluding acquired deposits, deposit growth during 1Q18 was strongest in the Lake Charles, Louisiana, Naples, Florida and Mobile, Alabama markets.

Table D - Period-End Deposits
(Dollars in thousands)
							Linked Qtr Change				Year/Year Change		Mix
	3/31/2018		12/31/2017		3/31/2017		$	%	Annualized		$	%	3/31/2018		12/31/2017
Non-interest-bearing	$	6,595,495	$	6,209,925	$	5,031,583	385,570	6.2	25.1	%	1,563,912	31.1	28.7	%	28.9	%
NOW accounts	4,500,181		4,348,939		3,085,720		151,242	3.5	14.2	%	1,414,461	45.8	19.6	%	20.3	%
Money market accounts	8,271,969		7,674,291		6,372,855		597,678	7.8	31.6	%	1,899,114	29.8	36.0	%	35.7	%
Savings accounts	874,741		846,074		813,009		28,667	3.4	13.8	%	61,732	7.6	3.8	%	4.0	%
Time deposits	2,728,806		2,387,488		2,009,098		341,318	14.3	58.0	%	719,708	35.8	11.9	%	11.1	%
Total deposits	$	22,971,192	$	21,466,717	$	17,312,265	1,504,475	7.0	28.4	%	5,658,927	32.7	100.0	%	100.0	%

Asset Quality

Non-performing assets ("NPAs") to total assets remained flat at 64 basis points on a linked quarter basis. Accruing loans past due 30 to 89 days equated to 0.36% of total loans at 1Q18, compared to 0.31% at 4Q17.

Net charge-offs totaled $4.3 million in 1Q18, down $5.8 million, or 57%, compared to 4Q17. Annualized net charge-offs equated to 9 basis points of average loans in 1Q18, an 11 basis points decrease on a linked quarter basis.

Refer to Table 4 - Loans and Asset Quality Data for further information.

Capital Position

At March 31, 2018, the Company reported a non-GAAP tangible common equity ratio of 8.66%, up 5 basis points compared to December 31, 2017, and the preliminary Tier 1 leverage ratio was 9.97%, up 62 basis points compared to December 31, 2017. The Company’s preliminary calculation of its total risk-based capital ratio at March 31, 2018, was 12.48%, up 11 basis points compared to December 31, 2017.

At March 31, 2018, book value per common share was $66.38, up $0.21 per share, compared to December 31, 2017. Tangible book value per common share was $42.91, up $0.35 per share, compared to December 31, 2017. Based on the closing stock price of the Company’s common stock of $78.40 per share on April 19, 2018, this price equated to 1.18 times March 31, 2018 book value per common share and 1.83 times March 31, 2018 tangible book value per common share.

Dividends On Capital Stock. The declaration of dividends is at the discretion of the Board of Directors. The following details the recent dividend declarations:

Common Stock. On March 20, 2018, the Company declared a quarterly cash dividend of $0.38 per common share, a 3% increase compared to the common dividend declared in December 2017. The dividend is payable on April 27, 2018, to shareholders of record as of March 30, 2018.

Preferred Stock. On March 20, 2018, the Company declared a quarterly cash dividend of $0.4125 per depositary share of Series C Preferred Stock that is payable on May 1, 2018.

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Common Stock Repurchase Program. On May 4, 2016, the Board of Directors of the Company authorized the repurchase of up to 950,000 shares of the Company's common stock. The Company did not repurchase common shares under the authorized program during the first quarter of 2018. The Company has approximately 747,000 shares of common stock remaining that may be purchased under the currently authorized program.

IBERIABANK Corporation

IBERIABANK Corporation is a regional financial holding company with offices in Louisiana, Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, South Carolina, North Carolina, and New York offering commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, mortgage, and title insurance services.

The Company’s common stock trades on the NASDAQ Global Select Market under the symbol “IBKC”. The Company's Series B Preferred Stock and Series C Preferred Stock also trade on the NASDAQ Global Select Market under the symbols "IBKCP" and "IBKCO", respectively. The Company’s common stock market capitalization was approximately $4.5 billion, based on the NASDAQ Global Select Market closing stock price on April 19, 2018.

The following 10 investment firms currently provide equity research coverage on the Company:

• Bank of America Merrill Lynch

• FIG Partners, LLC

• Hovde Group, LLC

• Jefferies & Co., Inc.

• Keefe, Bruyette & Woods, Inc.

• Piper Jaffray & Co.

• Raymond James & Associates, Inc.

• Sandler O’Neill + Partners, L.P.

• Stephens, Inc.

• SunTrust Robinson-Humphrey

Conference Call

In association with this earnings release, the Company will host a live conference call to discuss the financial results for the quarter just completed. The telephone conference call will be held on Friday, April 20, 2018, beginning at 8:30 a.m. Central Time by dialing 1-888-317-6003. The confirmation code for the call is 9690151. A replay of the call will be available until midnight Central Time on April 27, 2018 by dialing 1-877-344-7529. The confirmation code for the replay is 10118181. The Company has prepared a PowerPoint presentation that supplements information contained in this press release. The PowerPoint presentation may be accessed on the Company’s web site, www.iberiabank.com, under “Investor Relations” and then "Financial Information" and “Presentations.”

Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with GAAP. The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance. Non-GAAP measures in this press release include, but are not limited to, descriptions such as core, tangible, and pre-tax pre-provision. These measures typically adjust GAAP performance measures to exclude the effects of the amortization of intangibles and include the tax benefit associated with revenue items that are tax-exempt, as well as adjust income available to common shareholders for certain significant activities or transactions that in management’s opinion can distort period-to-period comparisons of the Company’s performance. Transactions that are typically excluded from non-GAAP performance measures include realized and unrealized gains/losses on former bank owned real estate, realized gains/losses on securities, income tax gains/losses, merger-related charges and recoveries, litigation charges and recoveries, and debt repayment penalties. Management believes presentations of these non-GAAP financial measures provide useful supplemental information that is essential to a proper understanding of the operating results of the Company’s core businesses. These non-GAAP disclosures should not be viewed as a substitute for operating results determined

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in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of GAAP to non-GAAP disclosures are presented in the supplemental tables at the end of this release. Please refer to the supplemental tables for these reconciliations.

Caution About Forward-Looking Statements

This press release contains "forward-looking statements," which may include forecasts of our financial results and condition, expectations for our operations and businesses, and our assumptions for those forecasts and expectations. Do not place undue reliance on forward-looking statements. Due to various factors, actual results may differ materially from our forward-looking statements. Factors that could cause our actual results to differ materially from our forward-looking statements are described under "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Risk Factors" and "Regulation and Supervision" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2017, and in other documents subsequently filed by the Company with the Securities and Exchange Commission, available at the SEC's website, http://www.sec.gov, and the Company's website, http://www.iberiabank.com. To the extent that statements in this press release relate to future plans, objectives, financial results or performance by the Company, these statements are deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are generally identified by use of words such as "may," "believe," "expect," "anticipate," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology.

Forward-looking statements represent management's beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements. All information is as of the date of this press release. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.

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Table 1 - IBERIABANK CORPORATION
FINANCIAL HIGHLIGHTS
(Dollars in thousands, except per share data)
		As of and For the Three Months Ended
INCOME DATA:		3/31/2018			12/31/2017			% Change		3/31/2017			% Change
	Net interest income	$	232,889		$	235,502		(1.1	)	$	172,818		34.8
	Net interest income (TE) (1)	234,353			238,314			(1.7	)	175,309			33.7
	Total revenues (2)	277,455			287,844			(3.6	)	217,942			27.3
	Provision for loan losses	7,986			14,393			(44.5	)	6,154			29.8
	Non-interest expense (2)	188,296			182,065			3.4		138,796			35.7
	Net income available to common shareholders	60,023			9,329			543.4		46,874			28.1
PER COMMON SHARE DATA:
	Earnings available to common shareholders - basic	$	1.11		$	0.17		552.9		$	1.01		9.9
	Earnings available to common shareholders - diluted	1.10			0.17			547.1		1.00			10.0
	Core earnings (Non-GAAP) (3)	1.37			1.33			3.0		1.02			34.3
	Book value	66.38			66.17			0.3		65.25			1.7
	Tangible book value (Non-GAAP) (3) (4)	42.91			42.56			0.8		50.46			(15.0	)
	Closing stock price	78.00			77.50			0.6		79.10			(1.4	)
	Cash dividends	0.38			0.37			2.7		0.36			5.6
KEY RATIOS AND OTHER DATA (7):
	Net interest margin (TE) (1)	3.67		%	3.69		%			3.53		%
	Efficiency ratio (2)	67.9			63.3					63.7
	Core tangible efficiency ratio (TE) (Non-GAAP) (1) (2) (3) (4)	58.8			55.3					61.3
	Return on average assets	0.92			0.15					0.94
	Return on average common equity	6.79			1.02					6.41
	Core return on average tangible common equity (Non-GAAP) (3)(4)	13.83			12.73					8.99
	Effective tax rate	21.6			88.8					30.9
	Full-time equivalent employees	3,726			3,552					3,161
CAPITAL RATIOS:
	Tangible common equity ratio (Non-GAAP) (3) (4)	8.66		%	8.61		%			12.10		%
	Tangible common equity to risk-weighted assets (4)	10.27			10.20					14.48
	Tier 1 leverage ratio (5)	9.97			9.35					12.91
	Common equity Tier 1 (CET 1) (transitional) (5)	N/A			10.57					14.64
	Common equity Tier 1 (CET 1) (fully phased-in) (5)	10.77			10.53					14.60
	Tier 1 capital (transitional) (5)	11.32			11.16					15.38
	Total risk-based capital ratio (5)	12.48			12.37					16.92

10

	Common stock dividend payout ratio	36.0		213.6		39.0
	Classified assets to Tier 1 capital (8)	15.2		16.1		15.2
ASSET QUALITY RATIOS:
	Non-performing assets to total assets (6)	0.64	%	0.64	%	1.00	%
	ALLL to loans and leases	0.67		0.70		0.96
	Net charge-offs to average loans (annualized)	0.09		0.20		0.16
	Non-performing assets to total loans and OREO (6)	0.87		0.89		1.45
(1)	Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 35% for prior quarters and a rate of 21% for the current quarter.
(2)	Certain prior period amounts have been reclassified to conform to the net presentation requirements of ASU No. 2014-09, Revenue from Contracts with Customers, which was adopted effective January 1, 2018. On average, the adoption resulted in a reduction of non-interest income and non-interest expense of approximately $2.3 million on a quarterly basis, and had no impact on net income.
(3)	See Table 7 and Table 8 for GAAP to Non-GAAP reconciliations.
(4)	Tangible calculations eliminate the effect of goodwill and acquisition related intangible assets and the corresponding amortization expense on a tax-effected basis where applicable.
(5)	Regulatory capital ratios as of March 31, 2018 are preliminary.
(6)	Non-performing assets consist of non-accruing loans, accruing loans 90 days or more past due and other real estate owned, including repossessed assets. For purposes of this table, past due and non-accrual loan amounts exclude acquired impaired loans, even if contractually past due or if the Company does not expect to receive payment in full, as the Company is currently accreting interest income over the expected life of the loans.
(7)	All ratios are calculated on an annualized basis for the periods indicated.
(8)	Classified assets include commercial loans rated substandard or worse and non-performing mortgage and consumer loans and include acquired impaired loans accounted for under ASC 310-30.

11

Table 2 - IBERIABANK CORPORATION
CONDENSED CONSOLIDATED INCOME STATEMENTS
(Dollars in thousands, except per share data)
	For the Three Months Ended
						Linked Qtr Change											Year/Year Change
	3/31/2018			12/31/2017		$		%		9/30/2017			6/30/2017		3/31/2017		$		%
Interest income	$	270,543		$	269,703	840		0.3		$	246,972		$	204,575	$	192,533	78,010		40.5
Interest expense	37,654			34,201		3,453		10.1		30,089			20,932		19,715		17,939		91.0
Net interest income	232,889			235,502		(2,613	)	(1.1	)	216,883			183,643		172,818		60,071		34.8
Provision for loan losses	7,986			14,393		(6,407	)	(44.5	)	18,514			12,050		6,154		1,832		29.8
Net interest income after provision for loan losses	224,903			221,109		3,794		1.7		198,369			171,593		166,664		58,239		34.9
Mortgage income	9,595			13,675		(4,080	)	(29.8	)	16,050			19,730		14,115		(4,520	)	(32.0	)
Service charges on deposit accounts	12,908			12,581		327		2.6		12,534			11,410		11,153		1,755		15.7
Title revenue	5,027			5,398		(371	)	(6.9	)	5,643			6,190		4,741		286		6.0
Broker commissions(1)	2,221			1,958		263		13.4		2,094			2,562		2,547		(326	)	(12.8	)
ATM/debit card fee income(1)	2,633			2,583		50		1.9		2,486			2,646		2,483		150		6.0
Income from bank owned life insurance	1,282			1,267		15		1.2		1,263			1,241		1,311		(29	)	(2.2	)
(Loss) gain on sale of available-for-sale securities	(59		)	35		(94	)	(268.6	)	(242		)	59		—		(59	)	N/M
Other non-interest income(1)	10,959			14,845		(3,886	)	(26.2	)	11,015			10,000		8,774		2,185		24.9
Total non-interest income(1)	44,566			52,342		(7,776	)	(14.9	)	50,843			53,838		45,124		(558	)	(1.2	)
Salaries and employee benefits	104,586			104,387		199		0.2		106,970			86,317		81,853		22,733		27.8
Occupancy and equipment	20,047			19,211		836		4.4		19,139			16,292		16,021		4,026		25.1
Amortization of acquisition intangibles	5,102			4,642		460		9.9		4,527			1,651		1,770		3,332		188.2
Data processing(1)	12,393			11,416		977		8.6		12,300			6,713		6,362		6,031		94.8
Professional services	7,391			9,441		(2,050	)	(21.7	)	22,550			11,219		5,335		2,056		38.5
Credit and other loan related expense	4,618			3,170		1,448		45.7		7,532			3,780		4,526		92		2.0
Other non-interest expense(1)	34,159			29,798		4,361		14.6		27,744			19,408		22,929		11,230		49.0
Total non-interest expense(1)	188,296			182,065		6,231		3.4		200,762			145,380		138,796		49,500		35.7
Income before income taxes	81,173			91,386		(10,213	)	(11.2	)	48,450			80,051		72,992		8,181		11.2
Income tax expense	17,552			81,108		(63,556	)	(78.4	)	18,806			28,033		22,519		(4,967	)	(22.1	)
Net income	63,621			10,278		53,343		519.0		29,644			52,018		50,473		13,148		26.0
Less: Preferred stock dividends	3,598			949		2,649		279.1		3,598			949		3,599		(1	)	—
Net income available to common shareholders	$	60,023		$	9,329	50,694		543.4		$	26,046		$	51,069	$	46,874	13,149		28.1
Income available to common shareholders - basic	$	60,023		$	9,329	50,694		543.4		$	26,046		$	51,069	$	46,874	13,149		28.1
Less: Earnings allocated to unvested restricted stock	639			101		538		532.7		283			361		346		293		84.7
Earnings allocated to common shareholders	$	59,384		$	9,228	50,156		543.5		$	25,763		$	50,708	$	46,528	12,856		27.6

12

Earnings per common share - basic	$	1.11	$	0.17	0.94		552.9		$	0.49	$	1.00	$	1.01	0.1	9.9
Earnings per common share - diluted	1.10		0.17		0.93		547.1		0.49		0.99		1.00		0.1	10.0
Impact of non-core items (Non-GAAP) (2)	0.27		1.16		(0.89	)	(76.7	)	0.51		0.11		0.02		0.25	1,250.0
Earnings per share - diluted, excluding non-core items (Non-GAAP) (2)	$	1.37	$	1.33	0.04		3.0		$	1.00	$	1.10	$	1.02	0.35	34.3
NUMBER OF COMMON SHARES OUTSTANDING (in thousands)
Weighted average common shares outstanding - basic	53,616		53,287		329		0.6		52,424		50,630		46,123		7,493	16.2
Weighted average common shares outstanding - diluted	53,967		53,621		346		0.6		52,770		50,984		46,496		7,471	16.1
Book value shares (period end)	56,779		53,872		2,907		5.4		53,864		51,015		50,970		5,809	11.4
(1)  Certain prior period amounts have been reclassified to conform to the net presentation requirements of ASU No. 2014-09, Revenue from Contracts with Customers, which was adopted effective January 1, 2018. On average, the adoption resulted in a reduction of non-interest income and non-interest expense of approximately $2.3 million on a quarterly basis, and had no impact on net income.
(2)  See Table 7 and Table 8 for GAAP to Non-GAAP reconciliations.
N/M = not meaningful

13

TABLE 3 - IBERIABANK CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
PERIOD-END BALANCES							Linked Qtr Change													Year/Year Change
ASSETS	3/31/2018			12/31/2017			$		%		9/30/2017			6/30/2017			3/31/2017			$		%
Cash and due from banks	$	253,527		$	319,156		(65,629	)	(20.6	)	$	298,173		$	301,910		$	276,979		(23,452	)	(8.5	)
Interest-bearing deposits in other banks	310,565			306,568			3,997		1.3		583,043			167,450			1,024,139			(713,574	)	(69.7	)
Total cash and cash equivalents	564,092			625,724			(61,632	)	(9.8	)	881,216			469,360			1,301,118			(737,026	)	(56.6	)
Investment securities available for sale	4,542,486			4,590,062			(47,576	)	(1.0	)	4,736,339			4,009,299			3,823,953			718,533		18.8
Investment securities held to maturity	224,241			227,318			(3,077	)	(1.4	)	175,906			84,517			86,018			138,223		160.7
Total investment securities	4,766,727			4,817,380			(50,653	)	(1.1	)	4,912,245			4,093,816			3,909,971			856,756		21.9
Mortgage loans held for sale	110,348			134,916			(24,568	)	(18.2	)	141,218			140,959			122,333			(11,985	)	(9.8	)
Loans and leases, net of unearned income	21,706,090			20,078,181			1,627,909		8.1		19,795,085			15,556,016			15,132,202			6,573,888		43.4
Allowance for loan and lease losses	(144,527		)	(140,891		)	(3,636	)	2.6		(136,628		)	(146,225		)	(144,890		)	363		(0.3	)
Loans and leases, net	21,561,563			19,937,290			1,624,273		8.1		19,658,457			15,409,791			14,987,312			6,574,251		43.9
Premises and equipment, net	329,454			331,413			(1,959	)	(0.6	)	330,800			318,167			303,978			25,476		8.4
Goodwill and other intangible assets	1,338,573			1,277,464			61,109		4.8		1,281,479			757,025			758,340			580,233		76.5
Other assets	801,880			779,942			21,938		2.8		771,220			601,609			625,427			176,453		28.2
Total assets	$	29,472,637		$	27,904,129		1,568,508		5.6		$	27,976,635		$	21,790,727		$	22,008,479		7,464,158		33.9
LIABILITIES AND SHAREHOLDERS' EQUITY
Non-interest-bearing deposits	$	6,595,495		$	6,209,925		385,570		6.2		$	5,963,943		$	5,020,195		$	5,031,583		1,563,912		31.1
NOW accounts	4,500,181			4,348,939			151,242		3.5		3,547,761			3,089,482			3,085,720			1,414,461		45.8
Savings and money market accounts	9,146,710			8,520,365			626,345		7.4		9,165,417			6,815,513			7,185,864			1,960,846		27.3
Certificates of deposit	2,728,806			2,387,488			341,318		14.3		2,657,150			1,927,926			2,009,098			719,708		35.8
Total deposits	22,971,192			21,466,717			1,504,475		7.0		21,334,271			16,853,116			17,312,265			5,658,927		32.7
Short-term borrowings	375,000			475,000			(100,000	)	(21.1	)	975,008			250,000			80,000			295,000		368.8
Securities sold under agreements to repurchase	525,496			516,297			9,199		1.8		548,696			333,935			368,696			156,800		42.5
Trust preferred securities	120,110			120,110			—		—		120,110			120,110			120,110			—		—
Other long-term debt	1,329,192			1,375,725			(46,533	)	(3.4	)	1,007,474			547,133			507,975			821,217		161.7
Other liabilities	250,740			253,489			(2,749	)	(1.1	)	264,302			183,191			161,458			89,282		55.3
Total liabilities	25,571,730			24,207,338			1,364,392		5.6		24,249,861			18,287,485			18,550,504			7,021,226		37.8
Total shareholders' equity	3,900,907			3,696,791			204,116		5.5		3,726,774			3,503,242			3,457,975			442,932		12.8
Total liabilities and shareholders' equity	$	29,472,637		$	27,904,129		1,568,508		5.6		$	27,976,635		$	21,790,727		$	22,008,479		7,464,158		33.9

14

TABLE 3 Continued - IBERIABANK CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
AVERAGE BALANCES							Linked Qtr Change													Year/Year Change
ASSETS	3/31/2018			12/31/2017			$		%		9/30/2017			6/30/2017			3/31/2017			$		%
Cash and due from banks	$	308,319		$	307,328		991		0.3		$	277,968		$	277,047		$	302,585		5,734		1.9
Interest-bearing deposits in other banks	486,298			538,733			(52,435	)	(9.7	)	615,445			555,431			1,023,688			(537,390	)	(52.5	)
Total cash and cash equivalents	794,617			846,061			(51,444	)	(6.1	)	893,413			832,478			1,326,273			(531,656	)	(40.1	)
Investment securities available for sale	4,544,836			4,674,496			(129,660	)	(2.8	)	4,593,798			3,970,021			3,679,817			865,019		23.5
Investment securities held to maturity	226,229			191,067			35,162		18.4		114,895			85,516			87,246			138,983		159.3
Total investment securities	4,771,065			4,865,563			(94,498	)	(1.9	)	4,708,693			4,055,537			3,767,063			1,004,002		26.7
Mortgage loans held for sale	109,027			126,216			(17,189	)	(13.6	)	132,309			145,274			175,512			(66,485	)	(37.9	)
Loans and leases, net of unearned income	20,181,390			19,941,500			239,890		1.2		18,341,154			15,284,007			15,045,755			5,135,635		34.1
Allowance for loan and lease losses	(144,295		)	(138,927		)	(5,368	)	3.9		(147,046		)	(146,448		)	(145,326		)	1,031		(0.7	)
Loans and leases, net	20,037,095			19,802,573			234,522		1.2		18,194,108			15,137,559			14,900,429			5,136,666		34.5
Premises and equipment, net	331,640			329,957			1,683		0.5		327,917			309,622			305,245			26,395		8.6
Goodwill and other intangible assets	1,281,598			1,277,293			4,305		0.3		1,047,355			757,528			758,887			522,711		68.9
Other assets	807,177			787,400			19,777		2.5		793,126			605,539			628,092			179,085		28.5
Total assets	$	28,132,219		$	28,035,063		97,156		0.3		$	26,096,921		$	21,843,537		$	21,861,501		6,270,718		28.7
LIABILITIES AND SHAREHOLDERS' EQUITY
Non-interest-bearing deposits	$	6,278,507		$	6,176,347		102,160		1.7		$	5,601,071		$	4,992,598		$	4,976,945		1,301,562		26.2
NOW accounts	4,363,557			3,987,908			375,649		9.4		3,203,657			3,124,243			3,239,085			1,124,472		34.7
Savings and money market accounts	8,664,085			8,769,464			(105,379	)	(1.2	)	8,566,873			7,079,773			7,211,545			1,452,540		20.1
Certificates of deposit	2,471,485			2,444,403			27,082		1.1		2,413,727			1,964,234			2,083,749			387,736		18.6
Total deposits	21,777,634			21,378,122			399,512		1.9		19,785,328			17,160,848			17,511,324			4,266,310		24.4
Short-term borrowings	506,056			729,111			(223,055	)	(30.6	)	1,180,165			38,320			99,000			407,056		411.2
Securities sold under agreements to repurchase	477,862			494,757			(16,895	)	(3.4	)	439,077			314,090			311,726			166,136		53.3
Trust preferred securities	120,110			120,110			—		—		120,110			120,110			120,110			—		—
Other long-term debt	1,257,213			1,300,114			(42,901	)	(3.3	)	622,655			508,522			498,384			758,829		152.3
Other liabilities	275,869			264,790			11,079		4.2		273,163			200,673			221,993			53,876		24.3
Total liabilities	24,414,744			24,287,004			127,740		0.5		22,420,498			18,342,563			18,762,537			5,652,207		30.1
Total shareholders' equity	3,717,475			3,748,059			(30,584	)	(0.8	)	3,676,423			3,500,974			3,098,964			618,511		20.0
Total liabilities and shareholders' equity	$	28,132,219		$	28,035,063		97,156		0.3		$	26,096,921		$	21,843,537		$	21,861,501		6,270,718		28.7

15

Table 4 - IBERIABANK CORPORATION
LOANS AND ASSET QUALITY DATA
(Dollars in thousands)
							Linked Qtr Change													Year/Year Change
LOANS	3/31/2018			12/31/2017			$		%		9/30/2017			6/30/2017			3/31/2017			$		%
Commercial loans and leases:
Real estate- construction	$	1,199,625		$	1,240,396		(40,771	)	(3.3	)	$	1,298,282		$	1,100,504		$	946,477		253,148		26.7
Real estate- owner-occupied (1)	2,612,244			2,529,885			82,359		3.3		2,448,826			2,242,275			2,230,041			382,203		17.1
Real estate- non-owner occupied	5,437,082			5,167,949			269,133		5.2		5,020,778			3,839,777			3,844,823			1,592,259		41.4
Commercial and industrial (6)	5,325,682			5,135,067			190,615		3.7		5,016,437			4,195,096			3,975,734			1,349,948		34.0
Total commercial loans and leases	14,574,633			14,073,297			501,336		3.6		13,784,323			11,377,652			10,997,075			3,577,558		32.5
Residential mortgage loans	3,971,067			3,056,352			914,715		29.9		3,024,970			1,346,467			1,296,358			2,674,709		206.3
Consumer loans:
Home equity	2,421,186			2,292,275			128,911		5.6		2,320,233			2,158,948			2,146,796			274,390		12.8
Automobile	123,057			127,531			(4,474	)	(3.5	)	130,847			135,012			142,139			(19,082	)	(13.4	)
Credit card	93,261			96,368			(3,107	)	(3.2	)	88,454			87,088			84,113			9,148		10.9
Other	522,886			432,358			90,528		20.9		446,258			450,849			465,721			57,165		12.3
Total consumer loans	3,160,390			2,948,532			211,858		7.2		2,985,792			2,831,897			2,838,769			321,621		11.3
Total loans and leases	$	21,706,090		$	20,078,181		1,627,909		8.1		$	19,795,085		$	15,556,016		$	15,132,202		6,573,888		43.4
Allowance for loan and lease losses (2)	$	(144,527	)	$	(140,891	)	(3,636	)	2.6		$	(136,628	)	$	(146,225	)	$	(144,890	)	363		(0.3	)
Loans and leases, net	21,561,563			19,937,290			1,624,273		8.1		19,658,457			15,409,791			14,987,312			6,574,251		43.9
Reserve for unfunded commitments	(13,432		)	(13,208		)	(224	)	1.7		(21,032		)	(10,462		)	(11,660		)	(1,772	)	15.2
Allowance for credit losses	(157,959		)	(154,099		)	(3,860	)	2.5		(157,660		)	(156,687		)	(156,550		)	(1,409	)	0.9
ASSET QUALITY DATA
Non-accrual loans (3)	$	153,975		$	145,388		8,587		5.9		$	145,491		$	177,942		$	191,581		(37,606	)	(19.6	)
Other real estate owned and foreclosed assets	27,117			26,533			584		2.2		28,338			19,718			20,055			7,062		35.2
Accruing loans more than 90 days past due (3)	8,288			6,900			1,388		20.1		2,190			802			7,913			375		4.7
Total non-performing assets (3)(4)	$	189,380		$	178,821		10,559		5.9		$	176,019		$	198,462		$	219,549		(30,169	)	(13.7	)
Loans 30-89 days past due (3)	$	78,293		$	61,717		16,576		26.9		$	58,327		$	50,871		$	36,104		42,189		116.9
Non-performing assets to total assets (3)(4)	0.64		%	0.64		%					0.63		%	0.91		%	1.00		%
Non-performing assets to total loans and OREO (3)(4)	0.87			0.89							0.89			1.27			1.45
ALLL to non-performing loans (3)(5)	89.1			92.5							92.5			81.8			72.6

16

ALLL to non-performing assets (3)(4)	76.3			78.8							77.6			73.7			66.0
ALLL to total loans	0.67			0.70							0.69			0.94			0.96
Quarter-to-date charge-offs	$	9,116		$	12,526		(3,410	)	(27.2	)	$	30,460		$	12,189		$	7,291		1,825		25.0
Quarter-to-date recoveries	(4,813		)	(2,425		)	(2,388	)	98.5		(1,644		)	(1,289		)	(1,235		)	(3,578	)	289.7
Quarter-to-date net charge-offs	$	4,303		$	10,101		(5,798	)	(57.4	)	$	28,816		$	10,900		$	6,056		(1,753	)	(28.9	)
Net charge-offs to average loans (annualized)	0.09		%	0.20		%					0.62		%	0.29		%	0.16		%
(1) Real estate- owner-occupied is defined as loans with a "1E1" Call Report Code (loans secured by owner-occupied non-farm non-residential properties).
(2) The allowance for loan and lease losses includes impairment reserves attributable to acquired impaired loans.
(3) For purposes of this table, past due and non-accrual loan amounts exclude acquired impaired loans, even if contractually past due or if the Company does not expect to receive payment in full, as the Company is currently accreting interest income over the expected life of the loans.
(4) Non-performing assets consist of non-accruing loans, accruing loans 90 days or more past due and other real estate owned, including repossessed assets.
(5) Non-performing loans consist of non-accruing loans and accruing loans 90 days or more past due.
(6) Includes equipment financing leases.

17

TABLE 5 - IBERIABANK CORPORATION
QUARTERLY AVERAGE BALANCES, NET INTEREST INCOME AND YIELDS/RATES
(Dollars in thousands)
	For the Three Months Ended
	3/31/2018							12/31/2017						Basis Point Change
ASSETS	Average Balance			Interest Income/Expense		Yield/Rate (TE)(1)		Average Balance		Interest Income/Expense		Yield/Rate (TE)(1)		Yield/Rate (TE)(1)
Earning assets:
Commercial loans and leases	$	14,087,635		$	164,660	4.76	%	$	13,964,340	$	163,974	4.70	%	6
Residential mortgage loans	3,151,775			34,494		4.38		3,049,947		35,007		4.59		(21)
Consumer loans	2,941,980			38,915		5.36		2,927,213		38,836		5.26		10
Total loans and leases	20,181,390			238,069		4.79		19,941,500		237,817		4.77		2
Mortgage loans held for sale	109,027			1,154		4.23		126,216		1,251		3.96		27
Investment securities (2)	4,843,448			28,094		2.38		4,893,538		27,714		2.37		1
Other earning assets	679,902			3,226		1.92		725,042		2,921		1.60		32
Total earning assets	25,813,767			270,543		4.26		25,686,296		269,703		4.22		4
Allowance for loan and lease losses	(144,295		)					(138,927)
Non-earning assets	2,462,747							2,487,694
Total assets	$	28,132,219						$	28,035,063
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
NOW accounts	$	4,363,557		$	7,081	0.66	%	$	3,987,908	$	5,404	0.54	%	12
Savings and money market accounts	8,664,085			14,579		0.68		8,769,464		13,345		0.60		8
Certificates of deposit	2,471,485			6,584		1.08		2,444,403		6,115		0.99		9
Total interest-bearing deposits (3)	15,499,127			28,244		0.74		15,201,775		24,864		0.65		9
Short-term borrowings	983,918			2,524		1.04		1,223,868		2,901		0.94		10
Long-term debt	1,377,323			6,886		2.03		1,420,224		6,436		1.80		23
Total interest-bearing liabilities	17,860,368			37,654		0.86		17,845,867		34,201		0.76		10
Non-interest-bearing deposits	6,278,507							6,176,347
Non-interest-bearing liabilities	275,869							264,790
Total liabilities	24,414,744							24,287,004
Total shareholders' equity	3,717,475							3,748,059
Total liabilities and shareholders' equity	$	28,132,219						$	28,035,063
Net interest income/Net interest spread				$	232,889	3.40	%			$	235,502	3.46	%	(6)
Taxable equivalent benefit				1,464		0.02				2,812		0.04		(2)
Net interest income (TE)/Net interest margin (TE) (1)				$	234,353	3.67	%			$	238,314	3.69	%	(2)
(1) Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 35% for prior quarters and a rate of 21% for the current quarter.
(2) Balances exclude unrealized gain or loss on securities available for sale and the impact of trade date accounting.
(3) Total deposit costs for the three months ended March 31, 2018 and December 31, 2017 were 0.53% and 0.46%, respectively.

18

TABLE 5 Continued - IBERIABANK CORPORATION
QUARTERLY AVERAGE BALANCES, NET INTEREST INCOME AND YIELDS/RATES
(Dollars in thousands)
	For the Three Months Ended
	9/30/2017						6/30/2017						3/31/2017
ASSETS	Average Balance		Interest Income/Expense		Yield/Rate (TE)(1)		Average Balance		Interest Income/Expense		Yield/Rate (TE)(1)		Average Balance		Interest Income/Expense		Yield/Rate (TE)(1)
Earning assets:
Commercial loans and leases	$	12,951,243	$	146,003	4.52	%	$	11,136,842	$	127,301	4.64	%	$	10,917,714	$	119,605	4.50	%
Residential mortgage loans	2,464,348		28,645		4.65		1,319,207		14,345		4.35		1,273,069		12,848		4.04
Consumer loans	2,925,563		42,240		5.73		2,827,958		37,619		5.34		2,854,972		36,524		5.19
Total loans and leases	18,341,154		216,888		4.73		15,284,007		179,265		4.74		15,045,755		168,977		4.59
Mortgage loans held for sale	132,309		1,209		3.66		145,274		1,249		3.44		175,512		971		2.21
Investment securities (2)	4,709,526		26,246		2.32		4,029,491		22,307		2.32		3,741,128		19,927		2.24
Other earning assets	789,223		2,629		1.32		650,083		1,754		1.08		1,123,087		2,658		0.96
Total earning assets	23,972,212		246,972		4.14		20,108,855		204,575		4.13		20,085,482		192,533		3.93
Allowance for loan and lease losses	(147,046)						(146,448)						(145,326)
Non-earning assets	2,271,755						1,881,130						1,921,345
Total assets	$	26,096,921					$	21,843,537					$	21,861,501
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
NOW accounts	$	3,203,657	$	4,384	0.54	%	$	3,124,243	$	3,507	0.45	%	$	3,239,085	$	3,090	0.39	%
Savings and money market accounts	8,566,873		11,650		0.54		7,079,773		9,030		0.51		7,211,545		8,329		0.47
Certificates of deposit	2,413,727		5,766		0.95		1,964,234		4,576		0.93		2,083,749		4,638		0.90
Total interest-bearing deposits (3)	14,184,257		21,800		0.61		12,168,250		17,113		0.56		12,534,379		16,057		0.52
Short-term borrowings	1,619,242		4,152		1.02		352,410		226		0.26		410,726		277		0.27
Long-term debt	742,765		4,137		2.21		628,632		3,593		2.29		618,494		3,381		2.22
Total interest-bearing liabilities	16,546,264		30,089		0.72		13,149,292		20,932		0.64		13,563,599		19,715		0.59
Non-interest-bearing deposits	5,601,071						4,992,598						4,976,945
Non-interest-bearing liabilities	273,163						200,673						221,993
Total liabilities	22,420,498						18,342,563						18,762,537
Total shareholders' equity	3,676,423						3,500,974						3,098,964
Total liabilities and shareholders' equity	$	26,096,921					$	21,843,537					$	21,861,501
Net interest income/Net interest spread			$	216,883	3.42	%			$	183,643	3.49	%			$	172,818	3.34	%
Taxable equivalent benefit			2,585		0.04				2,492		0.05				2,491		0.05
Net interest income (TE)/Net interest margin (TE) (1)			$	219,468	3.64	%			$	186,135	3.71	%			$	175,309	3.53	%
(1) Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 35% for prior quarters and a rate of 21% for the current quarter.
(2) Balances exclude unrealized gain or loss on securities available for sale and the impact of trade date accounting.
(3) Total deposit costs for the three months ended September 30, 2017, June 30, 2017, and March 31, 2017 were 0.44%, 0.40% and 0.37%, respectively.

19

Table 6 - IBERIABANK CORPORATION
LEGACY AND ACQUIRED LOAN PORTFOLIO VOLUMES AND YIELDS
(Dollars in millions)
	For the Three Months Ended
	3/31/2018							12/31/2017							9/30/2017							6/30/2017							3/31/2017
AS REPORTED (US GAAP)	Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield
Legacy loans, net	$	166		$	14,556	4.61	%	$	157		$	14,235	4.39	%	$	148		$	13,638	4.29	%	$	140		$	13,150	4.27	%	$	131		$	12,760	4.12	%
Acquired loans	72			5,625		5.20		81			5,706		5.61		69			4,703		5.86		39			2,134		7.40		38			2,286		6.81
Total loans	$	238		$	20,181	4.77	%	$	238		$	19,941	4.74	%	$	217		$	18,341	4.70	%	$	179		$	15,284	4.70	%	$	169		$	15,046	4.55	%
	3/31/2018							12/31/2017							9/30/2017							6/30/2017							3/31/2017
ADJUSTMENTS	Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield
Legacy loans, net	$	—		$	—	0.00	%	$	—		$	—	0.00	%	$	—		$	—	0.00	%	$	—		$	—	0.00	%	$	—		$	—	0.00	%
Acquired loans	(15		)	142		(1.16	)	(21		)	161		(1.60	)	(20		)	120		(1.76	)	(12		)	72		(2.46	)	(11		)	87		(2.08	)
Total loans	$	(15	)	$	142	(0.32	)%	$	(21	)	$	161	(0.46	)%	$	(20	)	$	120	(0.45	)%	$	(12	)	$	72	(0.34	)%	$	(11	)	$	87	(0.31	)%
	3/31/2018							12/31/2017							9/30/2017							6/30/2017							3/31/2017
AS ADJUSTED (CASH YIELD, NON-GAAP)	Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield		Income			Average Balance		Yield
Legacy loans, net	$	166		$	14,556	4.61	%	$	157		$	14,235	4.39	%	$	148		$	13,638	4.29	%	$	140		$	13,150	4.27	%	$	131		$	12,760	4.12	%
Acquired loans	57			5,767		4.04		60			5,867		4.01		49			4,823		4.10		27			2,206		4.94		27			2,373		4.73
Total loans	$	223		$	20,323	4.45	%	$	217		$	20,102	4.28	%	$	197		$	18,461	4.25	%	$	167		$	15,356	4.36	%	$	158		$	15,133	4.24	%

20

Table 7 - IBERIABANK CORPORATION
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(Dollars in thousands, except per share amounts)
	For the Three Months Ended
	3/31/2018									12/31/2017									9/30/2017
	Pre-tax			After-tax			Per share (2)			Pre-tax			After-tax			Per share (2)			Pre-tax		After-tax		Per share (2)
Net income	$	81,173		$	63,621		$	1.17		$	91,386		$	10,278		$	0.19		$	48,450	$	29,644	$	0.56
Less: Preferred stock dividends	—			3,598			0.07			—			949			0.02			—		3,598		0.07
Income available to common shareholders (GAAP)	$	81,173		$	60,023		$	1.10		$	91,386		$	9,329		$	0.17		$	48,450	$	26,046	$	0.49
Non-interest income adjustments (1)(3):
(Gain) loss on sale of investments and other non-interest income	59			44			—			(35		)	(22		)	—			242		157		—
Non-interest expense adjustments (1)(3):
Merger-related expense	16,227			12,517			0.23			11,373			8,487			0.16			28,478		19,255		0.36
Compensation-related expense	1,221			928			0.02			1,457			947			0.01			1,092		710		0.02
Impairment of long-lived assets, net of (gain) loss on sale	2,074			1,576			0.03			3,177			2,065			0.04			3,661		2,380		0.04
Litigation expense	—			—			—			—			1,228			0.02			5,692		4,696		0.09
Other non-core non-interest expense	(683		)	(520		)	(0.01		)	467			358			0.01			377		245		—
Total non-interest expense adjustments	18,839			14,501			0.27			16,474			13,085			0.24			39,300		27,286		0.51
Income tax expense (benefit) - provisional impact of TCJA (4)	—			—			—			—			51,023			0.94			—		—		—
Income tax expense (benefit) - other	—			173			—			—			(1,237		)	(0.02		)	—		—		—
Core earnings (Non-GAAP)	100,071			74,741			1.37			107,825			72,178			1.33			87,992		53,489		1.00
Provision for loan losses (1)	7,986			6,309						14,393			9,355						18,514		12,034
Pre-provision earnings, as adjusted (Non-GAAP) (3)	$	108,057		$	81,050					$	122,218		$	81,533					$	106,506	$	65,523
	For the Three Months Ended
	6/30/2017									3/31/2017
	Pre-tax			After-tax			Per share (2)			Pre-tax			After-tax			Per share (2)
Net income	$	80,051		$	52,018		$	1.01		$	72,992		$	50,473		$	1.08
Less: Preferred stock dividends	—			949			0.02			—			3,599			0.08
Income available to common shareholders (GAAP)	$	80,051		$	51,069		$	0.99		$	72,992		$	46,874		$	1.00
Non-interest income adjustments (1)(3):
(Gain) loss on sale of investments and other non-interest income	(59		)	(38		)	—			—			—			—
Non-interest expense adjustments (1)(3):
Merger-related expense	1,066			789			0.02			54			35			—

21

Compensation-related expense	378			246			—		98		63		—
Impairment of long-lived assets, net of (gain) loss on sale	(1,306		)	(849		)	(0.02	)	1,429		929		0.02
Litigation expense	6,000			5,481			0.11		—		—		—
Total non-interest expense adjustments	6,138			5,667			0.11		1,581		1,027		0.02
Core earnings (Non-GAAP)	86,130			56,698			1.10		74,573		47,901		1.02
Provision for loan losses (1)	12,050			7,833					6,154		4,000
Pre-provision earnings, as adjusted (Non-GAAP) (3)	$	98,180		$	64,531				$	80,727	$	51,901
(1) Excluding preferred stock dividends, merger-related expense, and litigation expense, after-tax amounts are calculated using a tax rate of 24% in 2018 and 35% in 2017, which approximates the marginal tax rate.
(2) Diluted per share amounts may not appear to foot due to rounding.
(3) Adjustments to GAAP results include certain significant activities or transactions that, in management's opinion, can distort period-to-period comparisons of the Company's performance. These adjustments include, but are not limited to, realized and unrealized gains or losses on former bank-owned real estate, realized gains or losses on the sale of investment securities, merger-related expenses, litigation charges and recoveries, debt prepayment penalties, and gains, losses, and impairment charges on long-lived assets.
(4) Estimated net impact of the Tax Cuts and Jobs Act ("TCJA") enacted on December 22, 2017 is subject to refinement in future periods as further information becomes available.

22

Table 8 - IBERIABANK CORPORATION
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(Dollars in thousands)
	For the Three Months Ended
	3/31/2018			12/31/2017			9/30/2017			6/30/2017			3/31/2017
Net interest income (GAAP)	$	232,889		$	235,502		$	216,883		$	183,643		$	172,818
Taxable equivalent benefit	1,464			2,812			2,585			2,492			2,491
Net interest income (TE) (Non-GAAP) (1)	234,353			238,314			219,468			186,135			175,309
Non-interest income (GAAP) (3)	44,566			52,342			50,843			53,838			45,124
Taxable equivalent benefit	341			683			680			668			706
Non-interest income (TE) (Non-GAAP) (1) (3)	44,907			53,025			51,523			54,506			45,830
Taxable equivalent revenues (Non-GAAP) (1) (3)	279,260			291,339			270,991			240,641			221,139
Securities (gains) losses and other non-interest income	59			(35		)	242			(59		)	—
Core taxable equivalent revenues (Non-GAAP) (1) (3)	$	279,319		$	291,304		$	271,233		$	240,582		$	221,139
Total non-interest expense (GAAP) (3)	$	188,296		$	182,065		$	200,762		$	145,380		$	138,796
Less: Intangible amortization expense	5,102			4,642			4,527			1,651			1,770
Tangible non-interest expense (Non-GAAP) (2) (3)	183,194			177,423			196,235			143,729			137,026
Less: Merger-related expense	16,227			11,373			28,478			1,066			54
Compensation-related expense	1,221			1,457			1,092			378			98
Impairment of long-lived assets, net of (gain) loss on sale	2,074			3,177			3,661			(1,306		)	1,429
Litigation expense	—			—			5,692			6,000			—
Other non-core non-interest expense	(683		)	467			377			—			—
Core tangible non-interest expense (Non-GAAP) (2) (3)	$	164,355		$	160,949		$	156,935		$	137,591		$	135,445
Return on average assets (GAAP)	0.92		%	0.15		%	0.45		%	0.96		%	0.94		%
Effect of non-core revenues and expenses	0.21			0.88			0.42			0.10			0.02
Core return on average assets (Non-GAAP)	1.13		%	1.03		%	0.87		%	1.06		%	0.96		%
Efficiency ratio (GAAP) (3)	67.9		%	63.3		%	75.0		%	61.2		%	63.7		%
Effect of tax benefit related to tax-exempt income (3)	(0.5		)	(0.8		)	(1.0		)	(0.8		)	(0.9		)
Efficiency ratio (TE) (Non-GAAP) (1) (3)	67.4		%	62.5		%	74.0		%	60.4		%	62.8		%
Effect of amortization of intangibles	(1.8		)	(1.6		)	(1.7		)	(0.7		)	(0.8		)
Effect of non-core items	(6.8		)	(5.6		)	(14.4		)	(2.5		)	(0.7		)
Core tangible efficiency ratio (TE) (Non-GAAP) (1) (2) (3)	58.8		%	55.3		%	57.9		%	57.2		%	61.3		%
Return on average common equity (GAAP)	6.79		%	1.02		%	2.92		%	6.08		%	6.41		%
Effect of non-core revenues and expenses	1.66			6.90			3.07			0.67			0.14
Core return on average common equity (Non-GAAP)	8.45		%	7.92		%	5.99		%	6.75		%	6.55		%
Effect of intangibles (2)	5.38			4.81			2.96			2.11			2.44
Core return on average tangible common equity (Non-GAAP) (2)	13.83		%	12.73		%	8.95		%	8.86		%	8.99		%
Total shareholders' equity (GAAP)	$	3,900,907		$	3,696,791		$	3,726,774		$	3,503,242		$	3,457,975
Less: Goodwill and other intangibles	1,332,672			1,271,807			1,276,241			752,336			753,991
Preferred stock	132,097			132,097			132,097			132,097			132,097
Tangible common equity (Non-GAAP) (2)	$	2,436,138		$	2,292,887		$	2,318,436		$	2,618,809		$	2,571,887
Total assets (GAAP)	$	29,472,637		$	27,904,129		$	27,976,635		$	21,790,727		$	22,008,479
Less: Goodwill and other intangibles	1,332,672			1,271,807			1,276,241			752,336			753,991
Tangible assets (Non-GAAP) (2)	$	28,139,965		$	26,632,322		$	26,700,394		$	21,038,391		$	21,254,488
Tangible common equity ratio (Non-GAAP) (2)	8.66		%	8.61		%	8.68		%	12.45		%	12.10		%
(1) Fully taxable equivalent (TE) calculations include the tax benefit associated with related income sources that are tax-exempt using a rate of 35% for prior quarters and a rate of 21% for the current quarter.
(2) Tangible calculations eliminate the effect of goodwill and acquisition-related intangibles and the corresponding amortization expense on a tax-effected basis where applicable.
(3) Certain prior period amounts have been reclassified to conform to the net presentation requirements of ASU No. 2014-09, Revenue from Contracts with Customers, which was adopted effective January 1, 2018. On average, the adoption resulted in a reduction of non-interest income and non-interest expense of approximately $2.3 million on a quarterly basis, and had no impact on net income.

23

EX-99.2

1Q18 Earnings Presentation A p r i l 1 9 , 2 0 1 8 Exhibit 99.2

2 Safe Harbor To the extent that statements in this PowerPoint presentation relate to future plans, objectives, financial results or performance of IBERIABANK Corporation, these statements are deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements, which are based on management’s current information, estimates and assumptions and the current economic environment, are generally identified by the use of the words “plan”, “believe”, “expect”, “intend”, “anticipate”, “estimate”, “project” or similar expressions. The Company’s actual strategies, results and financial condition in future periods may differ materially from those currently expected due to various risks and uncertainties. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements. Consequently, no forward-looking statement can be guaranteed. Except to the extent required by applicable law or regulation, the Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason. This PowerPoint presentation supplements information contained in the Company’s earnings release dated April 19, 2018, and should be read in conjunction therewith. The earnings release may be accessed on the Company’s web site, www.iberiabank.com, under “Investor Relations” and then “Financial Information” and then “Press Releases.” Non-GAAP Financial Measures This PowerPoint presentation contains financial information determined by methods other than in accordance with GAAP. The Company’s management uses core non-GAAP financial metrics (“Core”) in their analysis of the Company’s performance to identify core revenues and expenses in a period that directly drive operating net income in that period. These Core measures typically adjust GAAP performance measures to exclude the effects of the amortization of intangibles and include the tax benefits associated with revenue items that are tax-exempt, as well as adjust income available to common shareholders for certain significant activities or transactions that in management’s opinion can distort period-to-period comparisons of the Company’s performance. Reference is made to “Non-GAAP Financial Measures” and “Caution About Forward Looking Statements” in the earnings release which also apply to certain disclosures in this PowerPoint presentation. Safe Harbor And Non-GAAP Financial Measures

3 Corporate Profile Our Franchise Corporate Snapshot • $4.5 billion market cap as of April 19, 2018 • $78.40 share price • 1.94% dividend yield • $29.5 billion in total assets as of March 31, 2018 • $21.7 billion in loans • $23.0 billion in deposits • Operating continuously for over 131 years • 320 offices serving 33 MSAs across 12 states Driving long-term value creation for our clients, associates, communities and shareholders

4 Our Focus Corporate Profile • Relationship-driven commercial and private banking business • Market-centric, people-driven approach in attractive Southeastern markets • Building long-term A-list client relationships through service and care • “Branch-lite” delivery model with focus on operating efficiency • Diversification across asset classes, business lines and geographies • Provide exceptional value-based client services • Great place to work • Growth that is consistent with high performance • Shareholder-focused • Strong sense of community Mission Statement Driving long-term value creation for our clients, associates, communities and shareholders

5 Quarterly Summary 1Q18 First Quarter Highlights: • 1Q18 reflective of typical seasonality and in-line with full-year 2018 guidance • Reported NIM of 3.67%, down 2 bps, and cash margin of 3.42%, up 9 bps, from prior quarter • Core tangible efficiency ratio increased primarily due to impact of seasonal revenue and operating expense • Strong asset quality • Rewarded certain associates a one-time cash bonus following the enactment of tax reform legislation in 1Q18 – impacting Core EPS by $0.03 in the current quarter on both a GAAP and Non-GAAP basis • Closed Gibraltar transaction and completed core systems and branch conversion in March 2018 • One time non-core items primarily driven by $16.2 million of merger-related expenses associated with Gibraltar transaction Key Metrics for 1Q18 GAAP 4Q17 GAAP 1Q18 Non- GAAP Core 4Q17 Non- GAAP Core 1Q18 Earnings Per Common Share $0.17 $1.10 $1.33 $1.37 Return On Average Assets 0.15% 0.92% 1.03% 1.13% Return on Average Common Equity 1.02% 6.79% 7.92% 8.45% Return on Tangible Common Equity (TE) -- -- 12.73% 13.83% Tangible Efficiency Ratio (TE) -- -- 55.30% 58.80%

6 GAAP EPS Profitability Trends Core EPS Return on Average Assets Return on Common Equity

7 Client Growth • Total period-end loan growth of $1.6 billion • Excluding acquired Gibraltar, loans increased $0.1 billion • Excluding acquired loans, loan growth during 1Q18 was strongest in the Corporate Asset Finance division (equipment financing business), the Energy Group (reserve-based lending) and the New Orleans, Louisiana market Loan Highlights Deposits – Period-End BalancesLoans – Period-End Balances Deposit Highlights • Period-end total deposits increased $1.5 billion • Excluding acquired Gibraltar, deposits increased $0.4 billion • Non-interest bearing deposits increased $386 million, or 25% annualized, on a period-end basis, and were 29% of total deposits

8 • Slight net interest margin contraction with cash margin expansion - remain asset sensitive • Estimated impact of the next 25 basis point increase in the Federal Funds Rate would equate to a $0.04 increase in quarterly EPS – the impact of additional rate increases may diminish with the impact of deposit betas Revenues – Net Interest Income HighlightsNet Interest Income and Margins Dollars in millions 12-Month Net Interest Income Scenarios

9 • 1Q18 results impacted by typical seasonal trends • GAAP and core non-interest income both decreased by $8 million, or 15% • Ramp-up in seasonal businesses occurring as expected entering 2Q18 Revenues –Non-Interest Income HighlightsComponents of Core Non-Interest Income1 (1) Certain prior period amounts have been reclassified to conform to the net presentation requirements of ASU No. 2014-09, Revenue from Contracts with Customers, which was adopted effective January 1, 2018. On average, the adoption resulted in a reduction of non-interest income and non-interest expense of approximately $2.3 million on a quarterly basis, and had no impact on net income.

10 Non-Interest Expense HighlightsComponents of Core Non-Interest Expense1 • Total non-interest expense for the quarter increased $6.2 million, or 3%, to $188.3 million • Core non-interest expenses increased $3.9 million, or 2%, to $169.5 million • Includes $2.3 million of one-time expense related to associate bonus • $18.8 million of non-core merger- related expense in 1Q18, primarily related to Gibraltar acquisition • Cost saves and acquisition synergies embedded in the 2018 guidance non- interest expense range being realized as planned (1) Certain prior period amounts have been reclassified to conform to the net presentation requirements of ASU No. 2014-09, Revenue from Contracts with Customers, which was adopted effective January 1, 2018. On average, the adoption resulted in a reduction of non-interest income and non-interest expense of approximately $2.3 million on a quarterly basis, and had no impact on net income.

11 Efficiency • Total core revenues were down $10.4 million, or 4%, compared to 4Q17, while core expenses were up $3.9 million, or 2%, over that period • Our core tangible efficiency ratio was 58.8% in 1Q18 • First quarter revenues and expenses impacted by typical seasonal declines (payroll taxes, day count, etc.) • Closed/Consolidated 11 branches in 1Q18 HighlightsEfficiency Ratio Trends

12 Asset Quality Stable and improving credit quality metrics: • Net charge-offs decreased $5.8 million on a linked quarter basis, to $4.3 million, and equated to an annualized 0.09% of average loans, compared to 0.20% in 4Q17 • Provision expense of $8.0 million in 1Q18, a 45% decrease from 4Q17 primarily due to decreased concerns of impact from prior hurricanes and general overall improvement of previous energy credits • NPAs to Total Assets remained flat at 0.64% at March 31, 2018 Non-Performing Assets Highlights Provision & Net Charge-Offs

13 Credit Risk Coverage • Credit risk reserves include: • Allowance for credit losses • Acquired loan discounts (non- impaired assets) • Credit reserve coverage of loans equal to 1.19% at 1Q18, as compared to 0.67% of allowance to loans Highlights Credit Risk Reserves (Non-GAAP) & Loan Coverage Credit Risk Reserves (Non-GAAP) & NPA Coverage 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 Allowance for Loan Losses 144,719 144,890 146,225 136,628 140,891 144,527 Non Impaired Acquired Loan Discounts, Net 12,930 11,874 10,879 110,307 94,734 100,837 Reserve for Unfunded Commitments 11,241 11,660 10,462 21,032 13,208 13,432 Total Credit Risk Reserves 168,890 168,424 167,566 267,967 248,833 258,796 Credit Risk Reserves as a % of Loans 1.12% 1.11% 1.08% 1.35% 1.24% 1.19%

14 Capital Position Highlights Capital Ratios (Preliminary) • Capital ratios improved in 1Q18 due to issuance of common shares for Gibraltar transaction and increase in quarterly retained earnings • Declared quarterly common stock dividend of $0.38 per share, an increase of 3% on an annualized basis from prior quarter, payable on April 27, 2018 • Under the current Board authorized share repurchase plan there are approximately 747,000 shares of common stock remaining that may be purchased by the Company IBERIABANK Corporation 4Q17 1Q18 Change Common equity Tier 1 (CET 1) ratio 10.57% 10.77% 20 bps Tier 1 Leverage 9.35% 9.97% 62 bps Tier 1 Risk-Based 11.16% 11.32% 16 bps Total Risk-Based 12.37% 12.48% 11 bps IBERIABANK and Subsidiaries 4Q17 1Q18 Change Common equity Tier 1 (CET 1) ratio 10.86% 11.16% 30 bps Tier 1 Leverage 9.10% 9.83% 73 bps Tier 1 Risk-Based 10.86% 11.16% 30 bps Total Risk-Based 11.55% 11.83% 28 bps

15 M&A Update Gibraltar Private Bank & Trust • Transaction announced on October 19, 2017 and completed March 23, 2018 • Attractive transaction pricing with net present value of cost saves greater than total consideration • Highly synergistic acquisition that further complements our existing Florida franchise Progress Update Summary • Final pricing metrics at closing include Price to Tangible Book Value equal to 150% and Core Deposit Premium equal to 7.7% • Successful conversion of branch and operating systems completed over weekend of March 23- 25, 2018 • $16.2 million in merger-related expense recorded in 1Q18; $13.1 million remaining and expected to be incurred in 2Q18 • Run-rate cost savings expected to be fully achieved by the end of the third quarter of 2018 Cash and Due From 102,570$ Total Investment Securities 19,169 Total Loans 1,465,319 Premises and Equipment 4,104 Goodwill 42,530 Core Deposit Intangibles 18,529 Other Assets 38,486 Total Assets 1,690,707$ Total Deposits 1,064,803 Total Bo rowings 405,107 Other Liabilities 6,131 Total Liabilities 1,476,041$ Total Capital (Issued) 214,666 Total Liabilities And Capital 1,690,707$ Gibraltar Acquired (After Preliminary Purchase Accounting Adjustments)

16 The Company’s guidance is subject to risks, uncertainties, and assumptions which could, individually or in aggregate, cause actual results or financial condition to differ materially from those anticipated above. Reference is made to “Caution About Forward-Looking Statements” in the earnings release which also applies to this guidance. 2018 Guidance Update • Updated margin guidance based on best estimates of yield curve expectations for remainder of 2018 (Fed moves in June and December) • We continue to manage the business for long-term value creation for all shareholders

17 APPENDIX

18 Loans and Deposits By State Note: Figures at period-end March 31, 2018 $21.7 Billion $23.0 Billion Total Loans Total Deposits

19 Non-Interest Income And Expense Trend Details Non-interest Income ($ millions) 4Q 16 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 $ Change % Change Service Charges on Deposit Accounts 11.2$ 11.2$ 11.4$ 12.5$ 12.6$ 12.9$ 0.3$ 3% ATM / Debit Card Fee Income 2.5 2.5 2.6 2.5 2.6 2.6 0.0 2% BOLI Proceeds and CSV Income 1.3 1.3 1.2 1.3 1.3 1.3 0.0 1% Mortgage Income 16.1 14.1 19.7 16.0 13.7 9.6 (4.1) -30% Title Revenue 5.3 4.7 6.2 5.6 5.4 5.0 (0.4) -7% Broker Commissions 3.8 2.5 2.6 2.1 1.9 2.2 0.3 13% Other Non-interest Income 11.5 8.8 10.0 11.0 14.8 11.0 (3.8) -26% Non-interest income excluding non-core income 51.7$ 45.1$ 53.7$ 51.0$ 52.3$ 44.6$ (7.7)$ -15% Gain (Loss) on Sale of Investments, Net - - 0.1 (0.2) 0.0 (0.1) (0.1) -271% Other Non-core income - - - - - - - 0% Total Non-interest Income 51.7$ 45.1$ 53.8$ 50.8$ 52.3$ 44.5$ (7.8)$ -15% Non-interest Expense ($ millions) 4Q 16 1Q 17 2Q 17 3Q 17 4Q 17 1Q 18 $ Change % Change Mortgage Commissions 5.2$ 3.3$ 5.3$ 5.3$ 5.3$ 4.4$ (0.9)$ -17% Hospitalization Expense 3.9 5.9 5.2 5.7 6.8 6.7 (0.1) -3% Other Salaries and Benefits 71.6 72.6 75.2 84.4 88.5 90.0 1.5 2% Salaries and Employee Benefits 80.7$ 81.8$ 85.7$ 95.4$ 100.6$ 101.1$ 0.5$ 1% Credit/Loan Related 3.4 4.5 3.8 7.5 3.2 4.6 1.4 46% Occupancy and Equipment 15.6 16.0 16.1 18.8 18.4 18.4 0.0 0% Amortization of Acquisition Intangibles 2.1 1.8 1.7 4.5 4.6 5.1 0.5 10% All Other Non-interest Expense 30.3 33.1 32.0 35.2 38.8 40.3 1.5 4% Nonint. Exp. (Ex-Non-Core Exp.) 132.1$ 137.2$ 139.3$ 161.4$ 165.6$ 169.5$ 3.9$ 2% Compensation-related expense 0.2$ 0.1$ 0.4$ 1.1$ 1.5$ 1.2$ (0.3) -18% Storm-related expense - - - 0.4 0.1 - (0.1) -100% Impairment of Long-lived Assets, net of gains on sales (0.5) 1.4 (1.3) 3.7 3.2 2.1 (1.1) -34% Loss on early termination of loss share agreements 17.8 - - - - - - 0% Consulting and Professional - - 6.0 5.7 - - - 0% Other Non-interest Expense 0.5 - - - 0.3 (0.7) (1.0) -320% Merger-related expense - 0.1 1.0 28.5 11.4 16.2 4.8 42% Total Non-interest Expense 150.1$ 138.8$ 145.4$ 200.8$ 182.1$ 188.3$ 6.2$ 3% Tangible Efficiency Ratio - excl Non-Core-Exp 60.1% 61.3% 57.2% 57.9% 55.3% 58.8% 1Q18 vs. 4Q17 1Q18 vs. 4Q17 Certain prior period amounts have been reclassified to conform to the net presentation requirements of ASU No. 2014-09, Revenue from Contracts with Customers, which was adopted effective January 1, 2018. On average, the adoption resulted in a reduction of non-interest income and non-interest expense of approximately $2.3 million on a quarterly basis, and had no impact on net income.

20 GAAP And Non-GAAP Cash Margin • Adjustments represent accounting impacts of purchase discounts on acquired loans and related accretion as well as the indemnification asset and related amortization on the covered portfolio Dollars in millions Balances, As Reported Adjustments As Adjusted Non-GAAP 1Q17 Average Balance 20,085$ 87$ 20,172$ Income 172.8$ (10.7)$ 162.1$ Rate 3.53% -0.23% 3.30% 2Q17 Average Balance 20,109$ 72$ 20,181$ Income 183.6$ (12.2)$ 171.5$ Rate 3.71% -0.26% 3.45% 3Q17 Average Balance 23,972$ 120$ 24,092$ Income 216.9$ (19.6)$ 197.3$ Rate 3.64% -0.35% 3.29% 4Q17 Average Balance 25,686$ 161$ 25,847$ Income 235.5$ (21.4)$ 214.1$ Rate 3.69% -0.36% 3.33% 1Q18 Average Balance 25,814$ 142$ 25,956$ Income 232.9$ (14.8)$ 218.1$ Rate 3.67% -0.25% 3.42%

21 Reconciliation Of Non-GAAP Financial Measures • No material non-core income in 1Q18 • Non-core expenses equal to $18.8 million pre-tax, or $0.27 EPS after-tax: • Merger-related expenses equal to $16.2 million, or $0.23 EPS after-tax • Compensation-related expense equal to $1.2 million, or $0.02 EPS after-tax • Impairment of long-lived assets equal to $2.1 million, or $0.03 EPS after-tax Dollars in millions Pre-tax After-tax Per share Pre-tax After-tax Per share Pre-tax After-tax Per share Income available to common shareholders (GAAP) 48.5$ 26.0$ 0.49$ 91.4$ 9.3$ 0.17$ 81.2$ 60.0$ 1.10$ Non-interest income adjustments Gain on sale of investments and other non-interest income 0.2 0.2 0.00 (0.0) (0.0) (0.00) (0.0) (0.0) (0.00) Non-interest expense adjustments Merger-related expense 28.5 19.3 0.36 11.4 8.5 0.16 16.2 12.5 0.23 Compensation-related expense 1.1 0.7 0.02 1.4 0.9 0.01 1.2 0.9 0.02 Impairment of long-lived assets, net of (gain) loss on sale 3.7 2.4 0.04 3.2 2.1 0.04 2.1 1.6 0.03 Litigation expense 5.7 4.7 0.09 - 1.2 0.02 - - - Other non-operating non-interest expense 0.4 0.2 - 0.5 0.4 0.01 (0.7) (0.5) (0.01) Total non-interest expense adjustments 39.3 27.3 0.51 16.5 13.1 0.24 18.8 14.5 0.27 Income tax benefits - - - - 49.8 0.92 - 0.2 - Core earnings (Non-GAAP) 88.0 53.5 1.00 107.8 72.2 1.33 100.0 74.7 1.37 Provision for loan losses 18.5 12.0 14.4 9.3 8.0 6.3 Pre-provision earnings, as adjusted (Non-GAAP) 106.5$ 65.6$ 122.2$ 81.5$ 108.0 81.0 (1) Per share amounts may not appear to foot due to rounding. (2) Excluding merger-related expense and litigation expense, after-tax amounts are calculated using a tax rate of 24% in 2018 and 35% in 2017, which approximates the marginal tax rate D ollar Amount D ollar Amount D ollar Amount For The Quarter Ended September 30, 2017 D ecember 31, 2017 March 31, 2018